Prologis, Inc. (NYSE:PLD) Position Trimmed by Taylor & Morgan Wealth Management LLC

Taylor & Morgan Wealth Management LLC reduced its stake in Prologis, Inc. (NYSE:PLD) by 10.9% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 2,117 shares of the real estate investment trust’s stock after selling 260 shares during the quarter. Taylor & Morgan Wealth Management LLC’s holdings in Prologis were worth $267,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Arbor Capital Management Inc. ADV boosted its stake in Prologis by 0.8% during the second quarter. Arbor Capital Management Inc. ADV now owns 11,602 shares of the real estate investment trust’s stock valued at $1,299,000 after buying an additional 87 shares during the period. CX Institutional grew its stake in shares of Prologis by 2.7% in the third quarter. CX Institutional now owns 3,347 shares of the real estate investment trust’s stock worth $423,000 after acquiring an additional 88 shares during the last quarter. Mitchell Sinkler & Starr PA boosted its position in shares of Prologis by 5.1% during the second quarter. Mitchell Sinkler & Starr PA now owns 1,860 shares of the real estate investment trust’s stock valued at $228,000 after buying an additional 90 shares during the last quarter. Destination Wealth Management boosted its position in shares of Prologis by 4.7% during the second quarter. Destination Wealth Management now owns 2,033 shares of the real estate investment trust’s stock valued at $228,000 after buying an additional 92 shares during the last quarter. Finally, DT Investment Partners LLC lifted its holdings in Prologis by 9.8% in the third quarter. DT Investment Partners LLC now owns 1,043 shares of the real estate investment trust’s stock valued at $132,000 after acquiring an additional 93 shares during the period. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Prologis Stock Down 0.2 %

PLD traded down $0.25 during trading on Monday, hitting $117.29. 873,259 shares of the company’s stock traded hands, compared to its average volume of 3,633,179. The stock has a market capitalization of $108.59 billion, a price-to-earnings ratio of 34.64, a PEG ratio of 3.05 and a beta of 1.07. Prologis, Inc. has a 12-month low of $96.96 and a 12-month high of $137.52. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.52. The company’s 50 day simple moving average is $125.06 and its two-hundred day simple moving average is $117.41.

Prologis (NYSE:PLD) last issued its earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.37 by ($0.29). The firm had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.91 billion. Prologis had a return on equity of 4.88% and a net margin of 36.37%. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period last year, the firm posted $1.30 earnings per share. Analysts predict that Prologis, Inc. will post 5.42 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were paid a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a yield of 3.27%. The ex-dividend date of this dividend was Monday, September 16th. Prologis’s dividend payout ratio (DPR) is 112.28%.

Insider Activity

In other news, CIO Joseph Ghazal sold 5,200 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $129.07, for a total transaction of $671,164.00. Following the completion of the sale, the executive now owns 13,187 shares in the company, valued at approximately $1,702,046.09. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.50% of the company’s stock.

Analysts Set New Price Targets

PLD has been the subject of several research analyst reports. Truist Financial raised their price target on Prologis from $125.00 to $137.00 and gave the company a “buy” rating in a report on Monday, August 5th. StockNews.com upgraded Prologis from a “sell” rating to a “hold” rating in a research note on Thursday, July 18th. Morgan Stanley upped their target price on Prologis from $132.00 to $133.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 14th. BMO Capital Markets reissued a “market perform” rating and set a $115.00 target price on shares of Prologis in a report on Monday, July 15th. Finally, Evercore ISI increased their price objective on Prologis from $124.00 to $128.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. Eight research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $131.12.

Prologis Profile

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At March 31, 2024, the company owned or had investments in, on a wholly owned basis or through co-investment ventures, properties and development projects expected to total approximately 1.2 billion square feet (115 million square meters) in 19 countries.